DOJ, BAP to formalize cooperation vs online fraud | Inquirer News
Close  
Hacking, cybertheft

DOJ, BAP to formalize cooperation vs online fraud

By: - Reporter / @MRamosINQ
/ 04:46 AM December 28, 2021

MANILA, Philippines — The Department of Justice (DOJ) on Monday said it was closely coordinating with the Bankers Association of the Philippines (BAP) to improve their cybersecurity system following recent incidents of online fraud.

Charito Zamora, head of the DOJ’s Office of Cybercrime (OOC), said her office was already drafting a memorandum of understanding (MOU) between the DOJ and BAP to formalize their cooperation in protecting bank depositors against hackers and cyber criminals.

ADVERTISEMENT

The agreement, she said, would “promote a genuine atmosphere of collaboration and alliance through an effective and efficient partnership.”

“Even pending the approval of the MOU, the OOC has been consistently cooperating with the BAP through capacity building and [raising] public awareness on cybercrime,” Zamora said in a statement.

FEATURED STORIES

Stronger coordination

She said having a stronger coordination and communication system would help the DOJ and the country’s financial institutions thwart fraudulent online transactions and respond better to cyber-related crimes.

Two weeks ago, a number of clients of BDO Unibank shared on social media that they lost hundreds of thousands of pesos through unauthorized online fund transfers to a UnionBank account owned by a certain Mark Nagoyo.

BDO subsequently confirmed that some 700 of its account holders had fallen victim to a “sophisticated fraud technique” done through its online banking platform.

News handpicked by our editors


Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: bank hacking, Bankers Association of the Philippines, Department of Justice, online fraud
For feedback, complaints, or inquiries, contact us.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.